By Aisling Finn on Friday 9 July 2021
The credit and payments platform intends to use the fresh cash to build its current product offering and nearly double its employee numbers.
Another day, another $100m+ funding round, this time it’s for French credit and payment platform Younited.
The Paris-based fintech has raised $170m from both new and existing investors, adding Goldman Sachs and Bridgepoint to its books and seeing return investors Eurazeo, Bpifrance and AG2R La Mondiale also participated.
"Within nine years, through huge technological investment, Younited has changed the rules of the game, and has profoundly transformed credit and payment practices,” Charles Egly, CEO, Younited, said.
“Structured to avoid risks from excess debt, while remaining fair and ethical, credit is the key driver of economic and consumer revival. And in the current economic climate, our task is, more than ever, to help both consumers and businesses achieve their ambitions easily, and get going again.”
Since 2009, Younited has facilitated more than €2.4bn in financing across five European countries.
“Younited’s high level of commitment to customer satisfaction and the soundness of its engagement at the European level convinced us to invest. All the more so as it is led by a dynamic team of founders, and management, who complement each other's efforts,” Alexandre Flavier, investor at Goldman Sachs, added.
This latest funding boost will help the fintech expand its current product offering, build out its partner network and launch its own pay later function that will see customers able to spread their costs over anywhere between three and 48 months.
As it stands, the fintech works with a number of high-profile fintechs and financial institutions including Orange Bank, N26, HSBC France and Lydia, with the hopes of adding even more thanks to its latest fundraise.
Younited is also hoping to nearly double its workforce, adding 200 new staff members by the end of 2022 to its 440-strong employees across its four offices in Paris, Rome, Barcelona and Munich.